Miami-Dade School Board tentatively approves tax cut and budget for 2005-2006

MIAMI – The Miami-Dade County School Board gave initial approval Tuesday to a cut in the school tax rate that, despite the lower millage, will fund an ambitious 2005-2006 budget serving nearly 366,000 students.

The Board approved a total school tax rate of 8.438 mills, down from 8.687 mills in 2004. The tax rate cut marked the fourth consecutive decrease by Miami-Dade County Public Schools.

Since 2000, the District’s tax rate has fallen by more than 12 percent – double the average drop in municipal tax rate. As a result, the median home in Miami-Dade County that has experienced the typical cap on its value will have a tax bill that is $9.15 lower than in 2002.

A combination of new construction in the county and a rise in market values allowed the District to reduce the tax rate again while raising enough to maintain the momentum behind a number of academic improvements.

Among the items in the District’s $2.8 billion general fund budget are the following:

Nearly 1,000 more teachers;
Money specifically set aside to negotiate pay raises for employees to keep talented teachers in Miami-Dade classrooms;
A School Improvement Zone that is raising achievement significantly in schools that have been stuck in low performance for years. Eighty percent of the 39 schools in the Zone made performance gains last school year, with 40 percent improving enough to raise their state accountability grades;
Protection of a “rainy day” contingency fund that is 50% larger than a year ago, which is a principal reason why the District’s bond outlook is higher today.

A second public hearing on the budget and a final School Board vote will take place at 5:01 p.m. on Wed., Sept. 7, in the School Board Administration Building Auditorium.